Financial Communications Firm Relocates to Third Ave.
31 Aug, 2011, New York
Cushman & Wakefield announced today that ICR, LLC, a top-ranked financial communications consultancy firm, will relocate from 441 Lexington Ave. to new space at 825 Third Ave.
ICR, which is headquartered in Connecticut and ranked as the #1 independent financial communications firm by O'Dwyer's PR Report, has subleased 10,804 square feet on the entire 31st floor from Advance Publications, Inc., a media company owned by Condé Nast. Advance has a net lease on the entire building.
Kevin Daly of Cushman & Wakefield represented the tenant, ICR. David Hollander and Jason Frazier of CBRE represented Advance Publications, Inc.
Available sublease space in Manhattan has diminished dramatically this year, with available space totaling 4.9 million square feet, the lowest since April 2008. In comparison to last year at this time, there was 9.1 million square feet of available sublease space.
"The sublease space at 825 Third Ave. provides the tenant with a great location near Grand Central Terminal at a very good value," said Kevin Daly, a Cushman & Wakefield senior director. "ICR will benefit from a high-quality space that's built, furnished and has good views and natural light."
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